For Belocal, what does the provision for income taxes consist of for the years ended June 30?

According to Belocal's 2025 Franchise Disclosure Document, the provision for income taxes is detailed for the years ending June 30, 2025, 2024, and 2023. The FDD includes a breakdown of factors contributing to the total income tax provision. These factors include the expected tax provision at the statutory rate, state taxes net of the federal effect, permanent differences, and other adjustments.

For the year ending June 30, 2025, the provision for income taxes totaled $447,793. This figure is composed of an expected tax provision at statutory rates of $420,914, state taxes (net of federal effect) of $28,155, permanent differences of $10,246, and other adjustments resulting in a reduction of $(11,522). For the year ending June 30, 2024, the provision for income taxes totaled $207,418, which includes an expected tax provision at statutory rates of $145,107, state taxes of $42,883, permanent differences of $10,911, and other adjustments of $8,517. For the year ending June 30, 2023, the provision for income taxes totaled $357,481, which includes an expected tax provision at statutory rates of $221,183, state taxes of $118,217, permanent differences of $446, and other adjustments of $17,635.

Prospective Belocal franchisees should understand these components to better forecast their potential tax liabilities and overall profitability. The reconciliation of the expected federal income tax provision to the actual provision provides insight into how state taxes and other factors influence the final tax amount. Reviewing these figures over the three-year period can help a franchisee identify trends and potential fluctuations in tax obligations.